According to Future Market Insights, the strapping and banding equipment market is anticipated to attain a worth of US$ 3.7 Billion by 2032 and reach US$ 2.3 Billion in 2022. The market is anticipated to grow in sales between 2022 and 2032 at a 4.8% CAGR, driven by a rise in the demand for automated packaging equipment across a range of sectors.
Heavy and bulky goods are sent and transported using strapping and banding equipment because it protects the shipment during transit. Equipment for strapping and banding is required for all types of organisations, from tiny ones with minimal shipping and packing requirements to those engaged in big production. The market for strapping and banding equipment is expanding as a result of these advantages of the equipment.
Due to the increasing application in food & beverage, consumer electronics, e-commerce, and other industries, the poly banding tool market is anticipated to have phenomenal growth over the forecast period. The market for strapping and banding equipment is expanding as there is rising concern about preventing product damage during transportation.
There are three types of strapping and banding equipment: completely automatic, semiautomatic, and manual. Due to increased packaging sector automation, there will be a rise in the need for fully automatic strapping and banding equipment throughout the projected period.
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Key Takeaways from Global Strapping and Banding Equipment Market
- As per end-use industry, e-commerce is expected to hold 36% of the market share in 2032.
- Based on automation type, fully-automatic strapping and banding equipment are expected to increase 1.7 times the current market sales in the forecasted period.
- South Asia and East Asia are expected to be the largest market for strapping and banding equipment, with sales surging at a CAGR of 5.2% between 2022 and 2032.
- India is expected to lead the growth in South Asia market due to the presence of several leading manufacturing companies in the country.
- Food & beverage is expected to be the second-leading end use segment in strapping and banding equipment market.
“Automatic strapping and banding equipment are cost-effective, saves time and do work without much effort. Hence, manufacturers are investing more in automatic strapping and banding equipment to achieve production efficiency and reduce the manual efforts. They are leveraging their cutting-edge and green technology to capitalize on growing demand for safe packaging equipment from diverse industries” – comments FMI analyst
Increasing Need to Protect Products from Damage during Shipping to Create Demand
The threat of damage to goods during the transport process reduces significantly when they are accurately bound with a strapping and banding equipment. Protection of products requires pallet banding to hold, combine, fasten the goods, and stabilize. strapping and banding equipment are used to rapidly wrap large or small quantities of product to facilitate quicker transportation both to and from train or truck.
When the products are banded it improves their life expectancy of them throughout transport which helps to protect the product from getting damaged. Thus, the demand for strapping and banding equipment is rising due to the increasing need to protect products from damage during shipping.
Global Strapping and Banding Equipment Market Landscape
Signode Packaging Systems Corporation, FEIFER, TransPak, Vestil Manufacturing Corp., The Plastic Strapping Company Ltd, Allstrap Steel & Poly Strapping Systems LLC, Mosca GmbH, Strapack, Inc., W rent, s. r. o., Fromm Holding AG, FELINS, Cyclop International, Jia-in Industry Co., Ltd., Plasticband, S.A., Jining Myway Machinery Co., Ltd., ISG PACK, ESE Direct Ltd., Martin & Weissgerber Kaltband GmbH
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Global Strapping and Banding Equipment Market Report
Future market insights, in its new report, offers an unbiased analysis of the global market for strapping and banding equipment market by automation type (fully-automatic, semi-automatic, and manual), by product type (horizontal strapping and banding equipment, vertical strapping and banding equipment), by end-use (food & beverages, consumer electronics, household, e-commerce, automobile, others) across seven regions.
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
Strapping and Banding Equipment Market by Category
By Automation Type:
- Fully-Automatic
- Semi-Automatic
- Manual
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By Product Type:
- Horizontal Strapping and Banding Equipment
- Vertical Strapping and Banding Equipment
By End Use:
- Food & Beverages
- Consumer Electronics
- Household
- E-commerce
- Automobile
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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